Traders Buy United Technologies (UTX) on Weakness

Traders purchased shares of United Technologies Co. (NYSE:UTX) on weakness during trading hours on Friday. $207.64 million flowed into the stock on the tick-up and $95.92 million flowed out of the stock on the tick-down, for a money net flow of $111.72 million into the stock. Of all equities tracked, United Technologies had the 6th highest net in-flow for the day. United Technologies traded down ($0.26) for the day and closed at $128.68

Several equities research analysts recently commented on UTX shares. Robert W. Baird boosted their target price on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, September 20th. Jefferies Financial Group set a $157.00 target price on United Technologies and gave the stock a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Friday, October 12th. Wolfe Research started coverage on United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $149.70.

The firm has a market cap of $104.07 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.12. The company had revenue of $16.71 billion for the quarter, compared to analysts’ expectations of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. On average, sell-side analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.28%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is currently 42.11%.

In other United Technologies news, VP Robert J. Bailey sold 828 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $269,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akhil Johri sold 3,428 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the completion of the transaction, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The disclosure for this sale can be found here. Insiders sold 18,511 shares of company stock worth $2,521,974 in the last ninety days. 0.17% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BTR Capital Management Inc. increased its stake in United Technologies by 0.4% in the second quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after acquiring an additional 375 shares during the period. Squar Milner Financial Services LLC increased its stake in United Technologies by 13.5% in the second quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after acquiring an additional 397 shares during the period. Ascension Asset Management LLC grew its stake in United Technologies by 2.6% during the second quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after buying an additional 400 shares during the last quarter. Elmwood Wealth Management Inc. grew its stake in United Technologies by 5.4% during the third quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after buying an additional 400 shares during the last quarter. Finally, FCG Advisors LLC grew its stake in United Technologies by 12.3% during the second quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock worth $460,000 after buying an additional 403 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

United Technologies Company Profile (NYSE:UTX)

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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